Tag: e-commerce

China sees a sharp increase in mobile payments

| May 29, 2014

New report highlights the growth of mobile transactions in CHina

A new report from the People’s Bank of China shows that mobile payments are growing at a rapid pace in China. Many people have become quite comfortable with the idea of purchasing products online using their mobile devices. A growing number of retailers are beginning to accept mobile payments in their physical stores as well, making it easier for mobile commerce to flourish. Mobile banking is becoming particularly popular among consumers who tend to manage much of their finances with the aid of a smartphone or tablet.

Some $500 million in mobile transactions occurred in 2013, up 255% over transactions recorded in 2012

According to the report from the People’s Bank of China, nearly $500 million has been sent through mobile devices throughout the country in 2013. This represents a 255% increase over the mobile transactions that were recorded by the bank in 2012. The report only takes into account transactions conducted through the country’s major banking entities, however, and the amount of mobile transactions that occurred last year may actually be higher.

Major planks play a dominant role in mobile commerce throughout China

China Mobile Payments GrowthMajor banks have established a very powerful position in China’s mobile commerce sector. These organizations currently provide the most popular mobile money services and have a massive consumer base to draw from. Smaller banking organizations have a limited presence in mobile commerce because of their fewer resources and their general inability to engage mobile consumers in an effective manner. Retailers tend to side with larger banks because they have a favorable track record and are more aggressive when it comes to matters concerning security.

Large e-commerce organizations are powering the growth of mobile payments within the country

E-commerce throughout the Asian-Pacific region is growing quite quickly, with China leading the way. The country is home to some of the largest companies in the global e-commerce scene, and these companies are becomming increasingly interested in mobile commerce. As these large companies begin to engage mobile consumers, China is expected to continue seeing a dramatic increase in mobile payments activity.

Mobile commerce to help Taiwan’s e-commerce sector reach new heights

| May 20, 2014

E-commerce is growing quickly throughout Taiwan

Taiwan’s e-commerce sector is expected to see major growth in the coming years. More people throughout the country are beginning to shop online as new services become available to them The Institute for Information Industry has released a new report concerning this trend, highlighting the fact that e-commerce is becoming more attractive to these consumers because of its convenience factor. The growing adoption of mobile devices is also playing a role in the growth of e-commerce.

Mobile shopping is becoming a powerful trend among Taiwanese consumers

According to the report from the Institute for Information Industry, e-commerce in Taiwan is expected to grow by 20% annually over the next few years. The report notes that online transactions throughout the country reached $25.7 billion in 2013 and transactions are expected to reach more than $33.2 billion by 2015. Mobile commerce is expected to play a significant role in this growth as more consumers begin using the Internet from their smartphones and tablets.

Mobile devices are accounting for a greater portion of commerce throughout the country than they have in the past

Taiwan Mobile CommerceThe report indicates that nearly 18% of all Internet users in Taiwan are accessing the digital space from a mobile device. Many of these consumers are using their devices to shop for and purchase products online. Others are simply using these devices to compare products being offered by multiple retailers. Currently, an estimated 30% of Taiwan’s population use their mobile devices for commerce, communication, and social networking.

Security remains an issue of concern with most consumers

Mobile commerce has become quite popular throughout the Asian market. This is largely due to the widespread adoption of mobile technology, which is a trend that has been accelerating at a rapid rate for some time. Consumers appear to favor mobile shopping because it offers them more convenience and allows them to shop at any time of day with relatively little trouble. One issue that consumers are concerned about, however, is security. Many mobile commerce platforms currently lack the security features needed to keep a consumer’s financial information safe from exploitation.